Equinor reports loss
Oct 29 (LNGJ) - Equinor, the Norwegian oil and gas company whose Hammerfest LNG plant is closed until October 2021 after a fire in September, reported an operating loss of US$2.02 billion following net impairments of $2.93Bln mainly due to reduced future price assumptions. The company’s adjusted earnings came to $780 million and $270M after tax in the third quarter.
“Our financial results are impacted by weak prices as regions across the world are still severely affected by the pandemic,” said Eldar Saetre, President and Chief Executive of Equinor. “Net impairments in the quarter are mainly due to reduced price assumptions. Significant uncertainty remains around future commodity price development, underlining the importance of increased competitiveness and financial resilience,” added the CEO.
